India Needs Manufacturing Growth

January 20th, 2011
in econ_news

 India manufacturing Econintersect:  India needs to increase growth in the manufactuing sector in order to improve employment and the quality of jobs created, according to an advisor to the Indian government.  India is lagging behind China in development of manufacturing capabilities.

Follow up:

The manufacturing sector which is growing at a slower rate than the country's overall GDP should receive a boost through the development of manufacturing clusters across the country, said Planning Commission member Arun Maira. The national manufacturing policy aims to create 100 million jobs over the next 15 years, added Maira, who is advising the industry ministry in formulation of the national manufacturing policy.

Maira also said that the manufacturing sector which contributes around 16% of the GDP, needs to grow at least 2-4% faster than the GDP growth rate for meeting this ambitious target. "Manufacturing has not been adding many jobs in
India over the last few years. Whereas in China, manufacturing clusters have given employment to many people," said Maira.

Clusters are groups of inter-related industries that drive wealth creation in a region. They typically include the entire value chain of a broadly defined industry from suppliers to end products, and are interconnected by the flow of goods and services throughout this chain. They help improve resource efficiency, time management as well as bring in innovation in manufacturing practises.

The Times of India

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